APG Asset Management US Inc. Boosts Stock Position in Sunstone Hotel Investors, Inc. $SHO

Key Points

• APG Asset Management US Inc. increased its stake in Sunstone Hotel Investors, Inc. by 31.0%, bringing its total shares owned to 867,197, valued at approximately $8,230,000.
• Analysts are mixed on the stock, with Bank of America upgrading it to a "buy" rating with a price target of $10.00, while Wells Fargo lowered its target from $9.00 to $8.50.
• Sunstone Hotel Investors reported a 5.0% year-over-year revenue increase in its recent earnings results, posting a profit of $0.28 EPS, exceeding analysts' expectations.

APG Asset Management US Inc. lifted its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 31.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 867,197 shares of the real estate investment trust's stock after buying an additional 205,186 shares during the quarter. APG Asset Management US Inc. owned approximately 0.44% of Sunstone Hotel Investors worth $8,230,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Principal Financial Group Inc. boosted its position in Sunstone Hotel Investors by 5.2% during the 1st quarter. Principal Financial Group Inc. now owns 8,793,005 shares of the real estate investment trust's stock worth $82,742,000 after purchasing an additional 437,433 shares during the period. Bank of America Corp DE increased its holdings in shares of Sunstone Hotel Investors by 23.0% in the 4th quarter. Bank of America Corp DE now owns 6,567,535 shares of the real estate investment trust's stock valued at $77,760,000 after acquiring an additional 1,229,769 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Sunstone Hotel Investors during the first quarter valued at $42,838,000. Westwood Holdings Group Inc. raised its stake in Sunstone Hotel Investors by 45.9% during the first quarter. Westwood Holdings Group Inc. now owns 3,576,897 shares of the real estate investment trust's stock worth $33,659,000 after acquiring an additional 1,125,543 shares during the period. Finally, Northern Trust Corp raised its position in shares of Sunstone Hotel Investors by 0.7% during the 1st quarter. Northern Trust Corp now owns 3,180,251 shares of the real estate investment trust's stock worth $29,926,000 after purchasing an additional 20,843 shares during the period. Hedge funds and other institutional investors own 99.37% of the company's stock.

Analyst Ratings Changes

SHO has been the topic of several recent research reports. Bank of America upgraded shares of Sunstone Hotel Investors from an "underperform" rating to a "buy" rating and set a $10.00 price objective on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company cut their price objective on Sunstone Hotel Investors from $9.00 to $8.50 and set an "equal weight" rating for the company in a research report on Tuesday, July 1st. JPMorgan Chase & Co. started coverage on shares of Sunstone Hotel Investors in a report on Monday, June 23rd. They issued an "underweight" rating and a $8.00 target price for the company. Finally, Evercore ISI upped their target price on Sunstone Hotel Investors from $10.00 to $11.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $9.07.

Sunstone Hotel Investors Stock Up 5.0%

Shares of NYSE:SHO opened at $9.5550 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.73 and a current ratio of 2.73. The company has a market capitalization of $1.82 billion, a PE ratio of 477.99, a P/E/G ratio of 3.38 and a beta of 1.30. Sunstone Hotel Investors, Inc. has a 52 week low of $7.45 and a 52 week high of $12.41. The company's fifty day moving average is $8.90 and its 200-day moving average is $9.18.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.02. Sunstone Hotel Investors had a return on equity of 1.12% and a net margin of 2.15%.The business had revenue of $259.77 million for the quarter, compared to analyst estimates of $256.68 million. During the same period in the prior year, the company earned $0.28 EPS. Sunstone Hotel Investors's revenue for the quarter was up 5.0% on a year-over-year basis. Equities research analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Tuesday, September 30th. Sunstone Hotel Investors's dividend payout ratio (DPR) is presently 1,800.00%.

About Sunstone Hotel Investors

Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of the date of this release owns 14 hotels comprised of 6,675 rooms, the majority of which are operated under nationally recognized brands. Sunstone's strategy is to create long-term stakeholder value through the acquisition, active ownership, and disposition of well-located hotel and resort real estate.

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